ICE Carbon Index Futures

Highlights

  • As of March 31, the Global Carbon Index had a USD value of $40.40. The index hit a new record price for a second consecutive month of $41.48 on March 17.
  • Open interest across the North American complex surpassed 1M lots on March 15. The all-time open interest record is 1,088,503 lots, set on December 14, 2020.
  • Following February’s record in EUA options, March was the second most active month on record with 392,316 lots.

Carbon & Renewables

North America

  • March's delivery was comprised of 29,852 CCA lots, 8,025 RGGI lots, and 867 REC lots. Collectively, the complex total 38,774 lots which is the second largest delivery, following March 2020 at 40,024 lots.
  • 122,788 lots of CCA futures and options traded, a 10% increase over February.

Europe

  • EUA futures volume was 858,801 lots, a 16% increase on February, with 111,467 lots going to delivery via the March contract.
  • Full details of the upcoming UKA auctions, commencing May 19, can be found here.

Renewables

  • 41,782 lots of PJM Tri RECs traded, followed by 16,025 lots of NJ SRECs.

Key Dates & Events

North American environmental expiry, deliveries and auction:

  • Option Expiry: 15 April 2021
  • Last Trade Day: 27 April 2021
  • Delivery Day: 30 April 2021
  • CCA Joint Auction #27 is scheduled for May 19, with 71.6M current and 8.3M advanced allowances for sale
  • RGGI Auction #51 which occurred on March 3rd was fully subscribed, with 23.5 million allowances selling at $7.60

EUA expiry and deliveries:

  • EUA Futures last trade day: 26 April 2021
  • EUA Futures delivery day: 29 April 2021

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Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS)”.